Alleghany To Buy Transatlantic Holdings For $3.4B

Alleghany Corp Y announced its plans to buy Transatlantic Holdings Inc TRH for $3.4 billion in cash and stock. Alleghany will offer $59.79 per share to Transatlantic shareholders, representing a premium of about 10% over Transatlantic's Friday close of $54.43. TRH shares gained 1.19% to clsoe at $54.43 on Friday, while Alleghany shares gained 0.57% to clsoe at $314.26 on Friday.